Khaitan & Co Advised On Joint Development Agreement Between GKW And Anthurium Developers

Khaitan & Co Advised on Joint Development Agreement Between GKW and Anthurium Developers

Khaitan & Co acted as a common counsel on a joint development of a 37-acre land parcel in Mumbai by GKW Ltd and Anthurium Developers, a subsidiary of Mahindra Lifespace Developers Ltd.

GKW plans to undertake a mixed-use project with residential, commercial, and retail components on this prime land.

As per the agreement, ADL will receive 70.5% of the net revenue share from the proposed project, while the landowner, GKW, will receive 29.5%. The net revenue share may be adjusted based on the achievement of milestones outlined in the joint development pact.

The transaction was led by Khaitan & Co Partner Abhiraj Gandhi, alongside Partner Anirudh Jakhotia, with assistance from Partner Sharad Abhyankar for SEBI disclosures. For Anthurium Developers, the deal was led by Partner Harsh Parikh, supported by Principal Associate Karan Dattani.

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